Medtronic PLC $MDT Stake Trimmed by Aristotle Capital Management LLC

Aristotle Capital Management LLC lessened its stake in shares of Medtronic PLC (NYSE:MDT) by 5.2% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 7,286,099 shares of the medical technology company’s stock after selling 398,851 shares during the quarter. Aristotle Capital Management LLC’s holdings in Medtronic were worth $693,937,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of MDT. Artisan Partners Limited Partnership lifted its position in shares of Medtronic by 2.6% in the 3rd quarter. Artisan Partners Limited Partnership now owns 1,234,550 shares of the medical technology company’s stock valued at $117,579,000 after acquiring an additional 31,314 shares in the last quarter. AXQ Capital LP boosted its stake in Medtronic by 25.6% in the 2nd quarter. AXQ Capital LP now owns 9,890 shares of the medical technology company’s stock worth $862,000 after purchasing an additional 2,013 shares during the period. UMB Bank n.a. grew its position in Medtronic by 65.8% during the 3rd quarter. UMB Bank n.a. now owns 138,278 shares of the medical technology company’s stock worth $13,170,000 after purchasing an additional 54,898 shares in the last quarter. Applied Finance Capital Management LLC purchased a new position in Medtronic during the 3rd quarter worth approximately $1,308,000. Finally, Willis Investment Counsel raised its stake in Medtronic by 5.0% during the 3rd quarter. Willis Investment Counsel now owns 401,868 shares of the medical technology company’s stock valued at $38,274,000 after purchasing an additional 19,192 shares during the period. 82.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on MDT. JPMorgan Chase & Co. reduced their target price on Medtronic from $105.00 to $100.00 and set a “neutral” rating for the company in a report on Wednesday, February 18th. Mizuho upgraded Medtronic to a “strong-buy” rating in a report on Wednesday, February 18th. Wall Street Zen lowered Medtronic from a “buy” rating to a “hold” rating in a research report on Sunday, March 1st. Robert W. Baird reduced their price objective on Medtronic from $103.00 to $100.00 and set a “neutral” rating for the company in a research note on Wednesday, February 18th. Finally, Royal Bank Of Canada raised their price objective on Medtronic from $111.00 to $118.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 19th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $110.74.

Insiders Place Their Bets

In other news, EVP Harry Skip Kiil sold 52,524 shares of the firm’s stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $97.71, for a total transaction of $5,132,120.04. Following the completion of the sale, the executive vice president directly owned 32,768 shares of the company’s stock, valued at $3,201,761.28. This trade represents a 61.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.26% of the stock is currently owned by insiders.

Medtronic Trading Down 0.4%

Shares of NYSE:MDT opened at $87.05 on Friday. The firm has a fifty day moving average of $97.96 and a two-hundred day moving average of $96.87. The company has a quick ratio of 1.87, a current ratio of 2.54 and a debt-to-equity ratio of 0.57. Medtronic PLC has a 12-month low of $79.55 and a 12-month high of $106.33. The firm has a market capitalization of $111.77 billion, a P/E ratio of 24.25, a price-to-earnings-growth ratio of 2.23 and a beta of 0.71.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Tuesday, February 17th. The medical technology company reported $1.36 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.02. Medtronic had a net margin of 13.00% and a return on equity of 14.82%. The business had revenue of $9.02 billion for the quarter, compared to the consensus estimate of $8.89 billion. During the same period in the prior year, the business posted $1.38 earnings per share. Medtronic’s revenue for the quarter was up 5.8% compared to the same quarter last year. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. On average, equities analysts expect that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 17th. Shareholders of record on Friday, March 27th will be given a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend is Friday, March 27th. Medtronic’s dividend payout ratio is presently 79.11%.

About Medtronic

Medtronic plc is a global medical technology company that develops and manufactures a broad range of therapeutic devices and health care solutions. Headquartered legally in Ireland with principal operational offices in the United States, the company markets products to hospitals, physicians and health systems worldwide and has grown from its founding in 1949 into one of the largest medical-device manufacturers serving global health-care markets.

Medtronic’s offerings span several clinical areas, including cardiac rhythm and heart failure (pacemakers, implantable cardioverter‑defibrillators and related cardiac therapies), minimally invasive and surgical technologies (laparoscopic and advanced energy devices, visualization systems and surgical innovations), restorative therapies (spine and orthopedics, neuromodulation and neurovascular treatments) and diabetes management (insulin-delivery systems and glucose monitoring solutions).